Archive, May 2017.

Divorce can affect couples from all walks of life, even the financially flush. However, when wealthy people decide to end their marriage, the proceedings can differ somewhat from those who have relatively few assets to divide. For a wealthier couple, there will understandably be a more prolonged discovery period, as well as a focus on ensuring that all assets are properly identified and evaluated.

Divorce is a difficult decision to make. Sometimes, a couple may hesitate on pulling the proverbial trigger even though they are well aware that their marriage is in trouble. If you are in this situation, a legal separation may be an idea, as you receive many of the benefits of divorce without giving up all of the benefits of being married just yet. Be advised, however, that most people “separate” colloquially, meaning that they take no steps to protect their assets like bank accounts or titles to vehicles. Legal separation, by comparison, has specific procedures that must be followed.